Full Truck Alliance (NYSE:YMM) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Full Truck Alliance (NYSE:YMM - Free Report) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. HSBC started coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price for the company. Citigroup upped their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $13.25.

Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock traded up $0.16 during trading on Wednesday, hitting $11.67. The company's stock had a trading volume of 5,948,376 shares, compared to its average volume of 7,240,728. Full Truck Alliance has a 52 week low of $5.70 and a 52 week high of $13.03. The stock has a 50-day moving average price of $11.49 and a two-hundred day moving average price of $9.83. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 27.77 and a beta of 0.25.

Institutional Investors Weigh In On Full Truck Alliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance during the 4th quarter valued at $64,000. Townsquare Capital LLC bought a new position in shares of Full Truck Alliance in the fourth quarter worth approximately $111,000. Wolverine Trading LLC bought a new stake in Full Truck Alliance during the fourth quarter valued at about $115,000. Vise Technologies Inc. bought a new position in Full Truck Alliance in the 4th quarter worth approximately $130,000. Finally, Truist Financial Corp bought a new stake in Full Truck Alliance in the 4th quarter valued at $143,000. 39.02% of the stock is owned by hedge funds and other institutional investors.

About Full Truck Alliance

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.